The Federal Reserve is leaving its benchmark interest rate unchanged but signaling that it expects to resume raising rates gradually to reflect a healthy job market and economy.

At Janet Yellen”s final meeting as chair, the Fed kept its key short-term rate in a still-low range of 1.25 percent to 1.5 percent.

Yellen led a cautious approach to rate increases in four years as chair, and Jerome Powell, who will succeed her next week, has indicated he favors a similar approach.

The Fed raised its key rate three times in 2017, and most economists expect the Powell-led Fed to do so at least three additional times this year beginning in March. Powell has been a Yellen ally and among the Fed”s consensus-builders in 5½ years on the central bank”s board.